Playtech Limited
06 May 2008
6 May 2008
Playtech Limited
('Playtech' or 'the Company')
Q1 2008 Key Performance Indicators
Playtech (AIM: PTEC), the international designer, developer and licensor of
software for the online, mobile and land-based gaming industry, today announces
its Key Performance Indicators for the quarter ended 31 March 2008.
Financial Highlights
• Record revenues for the quarter totalling $39 million, representing an
increase of 97% on the $19.8 million earned in Q1 2007 and an increase of
19% on the $32.7 million achieved in Q4 2007
- Casino revenues totalled $27.2 million, an increase of 79% from $15.2
million in Q1 2007 and an increase of 19% from $22.9 million in Q4 2007
- Poker revenues totalled $11 million, an increase of 161% from $4.2 million
in Q1 2007 and an increase of 17% from $9.4 million in Q4 2007
• Significant growth in April with more than 9% revenue growth over the
monthly average during the first quarter of 2008
Operational Highlights
• 9 new licence agreements signed so far in 2008 and two licensees
launched at the end of Q1
• Strong pipeline of potential licensees
• Soft launch of Asian P2P games during Q1. Full roll out expected during
Q2
• Development of Flash Poker product completed. Full roll out expected
during Q3
• iPoker network became the largest non US poker liquidity pool in the
world during Q1*
• Commenced homologation process in various regulated jurisdictions
* source: www.pokerscout.com
Operations
Playtech has made strong progress during the period with total Group revenues
growing in the first quarter to $39 million, a 97% increase over that achieved
in the first quarter of 2007 and 19% above that achieved in the previous
quarter. The Group's Casino business continued to show strong growth, with
revenues up 79% year-on-year to $27.2 million and up 19% from the previous
quarter. Poker revenues grew by an impressive 161% to $11 million compared to
the same quarter in 2007 and by 17% compared to the previous quarter.
In line with Playtech's strategy to diversify geographically, focus on regulated
markets and migrate licensees from competitors, the Group has added nine new
licensees in 2008 and launched two licensees at the end of Q1. The new licensees
include Betsson, one of the largest publicly traded online gambling operators to
the European market and Vista Global Limited, the group behind the celebrity
endorsed Hollywood Poker brand. This brings the total number of licensees to 59.
The Group continues to expand its product offering with the soft launch of its
Asian P2P games, which are currently being tested by one of its Asian facing
licensees. Full roll out of the games is expected to occur during Q2. In
addition, development of the Flash Poker product has been completed and is under
testing. Full release of the product to all poker licensees is expected to occur
during Q3.
The iPoker network continues to move from strength to strength, with current
statistics (www.pokerscout.com) ranking it as the largest non US poker liquidity
pool in the world. The increased liquidity has enabled iPoker to offer a record
total of tournament prizes during March of over $15 million, which included a
single guaranteed tournament prize of over $2 million. The iPoker network will
host the second European Championship of Online Poker (www.ecoopii.com ) on the
23rd of May, which will offer a total of $3.5 million in guaranteed prizes and
involve ten consecutive poker tournaments.
Current Trading
The Group's growth in revenue during Q1 has continued into April with over 9%
growth in revenues over the monthly average revenues in the first quarter of
2008. The licensee pipeline is also strong and the momentum of Q1 is continuing
into Q2 with the signing of three new licensees. The Group expects to sign
additional new licensees during the year which should further strengthen its
revenue generation in the future.
Playtech will further support its future growth with the addition of new
products to its licensees, which will include the launch of the Asian P2P games
in Q2 and the flash poker product in Q3.
Mor Weizer, Chief Executive Officer, commenting on the KPI's, said today:
'This has been an outstanding quarter for the Group, registering impressive
month on month revenue growth. The addition of new licensees during the period
and the anticipated full roll out of the new Asian P2P games and Flash Poker
mean the Group is well positioned to grow in Q2 and beyond. The Group continues
to pursue significant business opportunities across all the regulated markets
and the Board is highly confident regarding the Group's trading performance for
2008 and beyond.'
First Quarter Key Performance Indicators at 31 March 2008
Revenues
Three months ended 31 March 31 March Change 31 Dec Change
'000 ($) 2008 2007 2007
Total Revenues 38,971 19,792 97% 32,740 19%
Casino Revenues 27,201 15,215 79% 22,943 19%
Poker Revenues 11,014 4,221 161% 9,424 17%
Share of Geographical Diversity(1)
Three months ended 31 March 31 March 31 Dec
2008 2007 2007
Europe 73% 67% 72%
Asia Pacific 20% 23% 20%
Rest of the World 7% 10% 8%
Nominal Change in Geographical Regions
Period Q1 2008 to Q1 2007 Q1 2008 to Q4 2007
Europe 115% 18%
Asia Pacific 73% 15%
Rest of the World 42% 2%
(1) The share is calculated as the total players' income derived from the
specific region divided by the total players' income from all regions
Mor Weizer, Chief Executive Officer, and Guy Emodi, Chief Financial Officer,
will be hosting an analyst conference call at 11.30am (BST) on 6 May 2008. The
timing of the call has been set to allow analysts from outside of the UK, to
participate.
Details of the conference call are as follows:
Dial-In No: +44 (0) 207 190 1232
UK Toll Free Dial-In No: 0800 358 5260
Conference title: Playtech Q1 KPIs
Replay (available for 1 week):
Dial-In No: +44 (0)20 7190 5901
PIN code: 139239#
- ends -
For Further Information:
Mor Weizer, CEO, Playtech Ltd
Guy Emodi, CFO, Playtech Ltd
c/o Bell Pottinger
www.playtech.com Tel: 020 7861 3232
Tim Mickley
Collins Stewart Tel: 020 7523 8000
David Rydell / Chris Hamilton
Bell Pottinger Corporate & Financial Tel: 020 7861 3232
About Playtech
Playtech develops unified software platforms for the online gambling industry,
primarily targeting existing online operators wanting to upgrade their system;
sportsbooks looking to diversify and land-based operators making their online
debut. Playtech gaming applications - online casino, poker, bingo, mobile
gaming, live gaming, land-based kiosk networks and fixed-odds games - are fully
intercompatible and can be freely incorporated as stand-alone applications,
accessed and funded by players through the same user account and managed by the
operator by means of a single powerful management interface. Founded in 1999,
Playtech has over 750 personnel distributed globally, around seventy five
percent of whom are engaged in research and development of current and future
gaming technologies.
Website: www.playtech.com
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This information is provided by RNS
The company news service from the London Stock Exchange
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